Canadian Solar Inc. (the "Company", "we" or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar companies, today announced its new ELPS solar cell technology boasting up to 19.5 percent cell efficiency for the monocrystalline and up to 18 percent for polycrystalline cells.

Canadian Solar, one of the world's leading solar companies, will introduce its new powerful ELPS solar cell technology at Intersolar Munich, 2011. The ELPS cell technology brings monocrystalline solar cells efficiency up to 19.5 percent and polycrystalline cell efficiency up to 18 percent.

"With the new ELPS Cell technology we again managed to significantly lower the production cost per watt while at the same time increasing the energy efficiency. In addition, the new solar cells easily integrate with our existing production lines," said Dr. Shawn Qu, Chairman and CEO of Canadian Solar.

The new ELPS solar cells are expected to be in production and Canadian Solar expects to start shipping solar modules incorporating the new technology in the fourth quarter 2011. The ELPS solar cells and a CS6P module with these cells will be showcased during INTERSOLAR Europe 2011 in Munich, Germany, at Canadian Solar's booth 280 in hall A1.